Secondary sector of economic activity

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Three-sector hypothesis
Economic sectors
Colin Clark
Jean Fourastié
Primary sector (raw materials)
Secondary sector (manufacturing)
Tertiary sector (services)
Others suggested
Quaternary sector
Quinary sector
By ownership
Public sector
Private sector
Voluntary sector

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The secondary sector of industry includes those economic sectors that create a finished, usable product: manufacturing and construction. If you work in this sector you may also manufacture or process products. This sector of industry generally takes the output of the primary sector and manufactures finished goods or where they are suitable for use by other businesses, for export, or sale to domestic consumers. This sector is often divided into light industry and heavy industry. Many of these industries consume large quantities of energy and require factories and machinery to convert the raw materials into goods and products. They also produce waste materials and waste heat that may pose environmental problems or cause pollution.

Industrial output in 2005

Some economists contrast wealth producing sectors in an economy such as manufacturing with the service sector which tends to be wealth consuming.^[1] Examples of service may include retail, insurance, and government. These economists contend that an economy begins to decline as its wealth producing sector shrinks. ^[2] Manufacturing is an important activity to promote economic growth and development. Nations which export manufactured products tend to generate higher marginal GDP growth which supports higher incomes and marginal tax revenue needed to fund the quality of life initiatives such as health care and infrastructure in the economy. The field is an important source for engineering job opportunities. Among developed countries, it is an important source of good paying jobs for the middle-class to facilitate greater social mobility for successive generations in an economy.....